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The rupee weakened 21 paise to 66.63 against the US dollar in early trade at the Interbank Foreign Exchange market on increased demand for the American currency from importers and banks.
A firm dollar against other currencies overseas as global growth worries swept equity markets and pushed lower oil prices, boosting demand for the American currency and a lower opening of the domestic equity market weighed on the rupee, dealers said.
Yesterday, the rupee had closed marginally up by 2 paise to 66.42 on selling of the US dollars by banks and exporters amid fall in equity market.
Meanwhile, the benchmark BSE Sensex fell 103.74 points, or 0.41%, to 25,125.96 in early trade.
